Many people missed the opportunity to swap their STEEM for HIVE when HIVE's prices were equal or lower than STEEM. If you were among them, here is your chance now.
Patience pays! I told you in one of my past posts that STEEM prices are gonna rise and HIVE will fall as STEEM Power Down period for Hive migrants is over now. So the sell pressure on STEEM is reduced whereas HIVE no more enjoy that buy pressure at the cost of STEEM.
Today morning I woke up to see the price of both currencies hovering around 0.20 cent. At the time of writing, STEEM has slided a little to 2157 sats while HIVE is still at 2235. But once HIVE breaks down the 2200 sat support level, it will soon catch up with STEEM again.
So how to swap STEEM for HIVE or vice-versa?
I see there are a bunch of options even if you don't want to use any centralized / custodian Exchanges.
Steem Engine & Hive Engine
Transfer STEEM to Steem Engine and buy HIVEP with STEEMP.
Now withdraw HIVEP as HIVE in your Hive wallet.
Deposit STEEM on Hive Engine to receive SWAP.STEEM in your wallet. Now exchange SWAP.STEEM for SWAP.HIVE and finally withdraw SWAP.HIVE to your HIve wallet as Hive.
N.B.: Steem-Engine & Hive-Engine deducts 1% of deposits & withdrawal as their service fee.
If 1% is too much for you, there are cheaper alternatives too.
STEEM LEO & LEO DEX
You can use Steem Leo DEX for depositing or withdrawing STEEM. It takes 0.35% as fee.
You can then use LEO DEX for depositing and withdrawing Hive. It charges only 0.25% fee.
SteemFinex & HiveFinex
The cheapest service was of @steemfinex. Unfortunately, it stopped working from 20th June, 2020.
N.B.: For depositing Hive to Hive-Engine, you must include 'swap' in the memo otherwise instead of SWAP.HIVE on HE, it may land up as HIVEP on SE.
But please make sure if @hivefinex services are functional after 20th June as I haven't confirmed it.
If you don't wish to use multiple interfaces and accounts for swapping your STEEM or HIVE, here is a simple interface and it's cheap too:
All swaps can be performed easily on a single page. The fee are only 0.25%.
With such a simple, easy to use and cheaper service, I really wonder why would anyone use Steem-Engine or Hive-Engine!
I understand that fee is so little that it doesn't matter to most esp. when making small exchanges. But lower liquidity is a concern for many. People tend to move to centralized Exchanges as higher volume and lower spread give them fair prices.
Here's one service, that will make your swapping job easier
while giving you the advantage of Binance orderbook. It's called Swap App
It's so simple to use. Just send STEEM to @swap.app with memo as "hive", you will receive HIVE on Hive chain.
Similarly, just send HIVE to @swap.app with memo as "steem", to get STEEM on Steem chain.
Exchange fee charged by this service is quite reasonable at 0.7%.
If you were accustomed to the Blocktrades.us interface, it has de-listed STEEM & SBD. But you have other swap services as alternatives.
One of these is Simple Swap Simple Swap has STEEM, SBD, HIVE & HBD along with many other cryptocurrencies and you can inter-change any of thosee with whatever you like to get that's listed on their platform. No sign up or account is necessary to avail these services.
Sequoir is yet another swapping service with Hive listed. But I haven't looked into it yet.
- Which is your favourite swapping or exhanging serivce?
- Do you have a better way to do it?